Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $158.3333.

SPRB has been the subject of a number of research analyst reports. Citizens Jmp dropped their price objective on Spruce Biosciences from $150.00 to $144.00 and set a “market outperform” rating for the company in a report on Thursday, August 13th. HC Wainwright reissued a “buy” rating on shares of Spruce Biosciences in a research report on Wednesday, August 26th. Oppenheimer restated an “outperform” rating on shares of Spruce Biosciences in a report on Wednesday, May 27th. JonesTrading assumed coverage on shares of Spruce Biosciences in a research report on Tuesday, June 9th. They set a “buy” rating and a $135.00 target price for the company. Finally, Weiss Ratings lowered shares of Spruce Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday.

Institutional Trading of Spruce Biosciences

Several large investors have recently added to or reduced their stakes in SPRB. SkyView Investment Advisors LLC acquired a new position in shares of Spruce Biosciences during the second quarter worth $162,000. Pale Fire Capital SE purchased a new position in shares of Spruce Biosciences in the second quarter valued at $206,000. AWM Investment Company Inc. acquired a new stake in Spruce Biosciences during the 2nd quarter valued at $7,937,000. Bank of New York Mellon Corp acquired a new stake in Spruce Biosciences during the 2nd quarter valued at $366,000. Finally, Stempoint Capital LP purchased a new stake in Spruce Biosciences during the 1st quarter worth $416,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Spruce Biosciences Trading Down 2.0%

SPRB stock traded down $1.09 on Friday, hitting $52.77. 24,268 shares of the company were exchanged, compared to its average volume of 62,854. Spruce Biosciences has a twelve month low of $7.26 and a twelve month high of $240.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.23 and a quick ratio of 9.23. The business’s fifty day moving average is $50.88 and its two-hundred day moving average is $54.69. The stock has a market capitalization of $151.44 million, a price-to-earnings ratio of -1.33 and a beta of 3.31.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($6.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.79) by ($0.89). As a group, research analysts forecast that Spruce Biosciences will post -25.53 earnings per share for the current year.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for endocrine disorders. The company’s research has centered on therapies intended to address conditions involving hormone dysregulation and adrenal function.

Its lead investigational product is tildacerfont, an oral, selective corticotropin-releasing factor type 1 (CRF1) receptor antagonist. The therapy is designed to reduce excessive adrenocorticotropic hormone (ACTH) signaling and adrenal androgen production, with development focused primarily on congenital adrenal hyperplasia (CAH), a rare inherited disorder affecting cortisol production.